Ahold’s Dutch supermarket unit Albert Heijn has launched a series of price cuts aimed at winning back customers and improving market share.
Starting today [Monday], Albert Heijn is to cut its prices by 7-30% on around a thousand products, reported Reuters. The company said the price cuts were in response to consumer criticism.
“We have over the past few months paid close attention to criticism from our customers, who consider us too expensive. We have taken the criticism to heart and we are working hard to regain lost clientele,” Albert Heijn director Dick Boer was quoted by Dow Jones News as saying.
Shares in Dutch retailer Laurus fell more than 4% at one point this morning due to fears that a price war could impact its earnings.